Currency pair quotes for the New Zealand Dollar against the US Dollar (NZD/USD) continue within the framework of correction development and forming a reversal pattern “Wedge”. Moving averages indicate the presence of a short-term upward trend on this pair. Prices have pierced the area between signal lines upwards, indicating pressure from the buyers of the currency pair and potential continuation of the price growth already from current levels. At the time of forex forecast publication, the New Zealand Dollar to US Dollar exchange rate is at 0.6019. Currently, one should expect an attempt at developing a rise in quotes, testing the resistance level close to the area 0.6055. Then, within tomorrow’s Forex forecast and analysis, there is an expectation of price reversal downwards and attempting a fall in the currency pair towards levels below 0.5725.
NZD/USD Forecast and Analysis for June 5, 2025
Additional signals indicating a decline in the currency pair NZD/USD on Forex would be testing the resistance line on the Relative Strength Index (RSI). A second signal supporting this scenario is a rebound from the upper border of the reversal pattern “Wedge”. Cancellation of the option for the price drop of New Zealand Dollar against USD on Forex would be a strong rise in prices and breaking through the level 0.6145. This would indicate the breakout of the resistance area and the top boundary of the “Wedge” model. In this case, the pair will continue to develop an upward movement in the area above the level 0.6275. To expect confirmation of a decline in the NZD/USD currency pair, it should break through the support area and close prices below the level 0.5905, indicating a breakout of the bottom boundary of the “Wedge” model and the beginning of implementing patterns with targets down.
NZD/USD Forecast and Analysis for June 5, 2025 anticipates a test of the resistance area near the level of 0.6055. From where one should expect continuation of price drop to an area below the level of 0.5725. An additional signal in favor of depreciation will be a bounce off the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the bearish scenario for NZD/USD pair will be strong price increase and breaking through the level of 0.6145. In this case, one should expect continuation of the pair’s rise with a potential target above the level of 0.6275.
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